Veritex (NASDAQ:VBTX) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Veritex (NASDAQ:VBTX) from a hold rating to a sell rating in a report issued on Tuesday.

Other analysts have also issued reports about the company. Stephens boosted their price objective on Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, September 17th. DA Davidson reiterated a “buy” rating and set a $29.00 price target on shares of Veritex in a research report on Wednesday, August 28th. Finally, Piper Sandler boosted their price objective on Veritex from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Veritex presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Veritex Stock Performance

Veritex stock opened at $27.08 on Tuesday. Veritex has a 52 week low of $16.84 and a 52 week high of $28.46. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.48 billion, a P/E ratio of 15.74 and a beta of 1.37. The stock has a 50 day moving average of $25.27 and a 200-day moving average of $22.57.

Veritex (NASDAQ:VBTX) last posted its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The firm had revenue of $113.17 million for the quarter, compared to the consensus estimate of $110.22 million. Veritex had a net margin of 11.11% and a return on equity of 7.88%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. On average, analysts expect that Veritex will post 2.13 EPS for the current fiscal year.

Veritex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, November 8th. Veritex’s dividend payout ratio is currently 46.51%.

Hedge Funds Weigh In On Veritex

Several large investors have recently bought and sold shares of VBTX. Meeder Asset Management Inc. bought a new position in Veritex during the 2nd quarter valued at $25,000. Fidelis Capital Partners LLC bought a new position in Veritex during the first quarter valued at about $29,000. CWM LLC grew its holdings in Veritex by 1,302.9% during the second quarter. CWM LLC now owns 3,339 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 3,101 shares during the period. Point72 DIFC Ltd raised its position in Veritex by 16.5% in the second quarter. Point72 DIFC Ltd now owns 5,763 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 816 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Veritex in the 1st quarter valued at about $177,000. Institutional investors and hedge funds own 88.31% of the company’s stock.

About Veritex

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.